Financial Inclusion in Action

Read, Share, and Discuss

Agent Networks In India – How Mandates Have Influenced the Landscape

Header3c

There is a key difference in how the Digital Financial Services (DFS) market in India has evolved when compared to other countries. While in most countries the expansion of DFS along with agent networks has been driven by profit, the growth of DFS in India has essentially been the result of government mandates. The mandates… Continue reading

Thoughts on DFS in “Europe Minus Infrastructure” – DRC!

Header3c

“Europe minus infrastructure”? This was the term that James Mwangi, CEO of Equity Group, used in an Equity Group briefing when describing and explaining Equity Banks’ move into DRC by purchasing ProCredit Bank Congo.  I have been thinking about which country might be the following some of the leading digital financial services (DFS) countries like… Continue reading

More Sophisticated Agent Networks Signal a Maturing Digital Finance Industry

Header3c

Agents are critical to the customer experience of digital money services because they represent the first and most tangible service touch points for most end users. Agent networks are also probably the most operationally burdensome and costly element of the digital financial service value chain, typically costing anywhere between 40 and 80 percent of revenues generated from… Continue reading

In Our Digital Financial Service We Trust?

“We keep hearing mobile money users complain about unstable network, delayed service, missing money and many other negative comments about mobile money. Why then should we register for these services?” After years of preoccupation with over-coming the core challenges of establishing large-scale, sustainable digital finance (largely mobile money) systems in developing countries, we are seeing… Continue reading

The Powerful Agents & Fractured Markets of Pakistan

Header3c

Pakistan is easily one of the top five leading digital finance markets in the world; yet also certainly one of the least understood.  Anyone striving to learn about it must first understand how the Over-the-Counter (OTC) methodology adopted in Pakistan works, as it operates uniquely compared to other markets, especially those where it is unregulated. … Continue reading

Should Microfinance Go Digital?

Header3c

“Nothing is as powerful as an idea whose time has come”- Victor Hugo Recently, a new partnership has emerged between digital financial service providers and microfinance institutions to address the challenges of financial access among the un/under banked populations globally. The partnership can potentially offer benefits to not only the two partners but also other… Continue reading

Anchoring Agent Commissions: How Much is Enough?

Header3c

How much does an agent need to earn to be satisfied, and stay motivated enough to provide a high quality of service to customers? Behavioral science teaches us that people anchor their appraisals of value to other numbers around them in the ecosystem. Marketing firms understand this concept well, often enticing us to perceive a… Continue reading

Bending the Rules for Better Customer Service is probably a Good Thing

Header3c

Recently, a team of qualitative researchers interviewed sixty mobile money agents and users in Kenya and Uganda to understand the drivers of important behaviours like non-compliance.  The findings were intriguing since it was clear that the driver of agents breaking some rules and regulations was their ambition to provide excellent customer service and thus increase… Continue reading

The Better Service Agents Provide, The More Business They Do

Header3c

One of the major objectives of the Agent Network Accelerator (ANA) project is to determine which aspects of strategic operations really build the business case in the agency business. The Helix Institute has partnered with the Harvard Business School to dig deep into the data that is being collected and some of the initial findings are quite interesting. Specifically, agents… Continue reading

Indonesia: The Quiet before the Storm

Header3c

Last year, The Helix Institute discussed the importance of focusing on the “Launchpad Stage” before rolling out a DFS deployment. The Launchpad Stage is the developmental phase which concentrates on identifying a value proposition in the market, defining an anchor product, designing processes, structuring management, streamlining protocols and crafting a marketing and communications strategy. In Nigeria, providers… Continue reading